How to Make a Market Research to Define a Micro Niche and Test it Before You Create Your Product

The Reason for the non-decreasing enthusiasm about having an online Business is that it can be literally started without any huge investment – which was unheard of a few years ago. From one site it’s good news but from the other site it’s the reason for most of the Failures. People just forget about the “Old-school” procedure of launching a Business.

When you start your business offline you invest tons of money in Market Researches and you can never be sure about the Rate of return. It’s expensive to reach your Targeted Audience (advertizing in specialty magazines of direct market to specific databases costs a lot of money). Some Businesses fail while other succeeds. Some Niches flourish while other disappear.

What’s the matter Online?

People define their interest in relation to the keywords they use to make searches. Some keywords are more commonly used by people looking to something to buy something and thus are commercially valuable. Some key phrases are used more frequently than others and are therefore more valuable and there are more competing websites that use those keywords. Making a Market Research you can exploit the Untapped Niche Markets without any Investment and literally unleash the Tsunami of Cash. How? Defining keywords that are used by people who are willing to buy a product online and for which there is an acceptable level of competition:

If you just started Online and You are looking for your Ideal 1st Niche: Find something you are passionate about (a hobby or interest)-It will make the whole process a lot more easier for You.

There are more and more competing websites online. If you are serious about making money you need to spend an extra time going deeper in your Researches. Forget about choosing a Market (like Wellness)… go deeper and find a smaller Niche (like Natural Face lifting) and don’t stop there -go for a sub-Segment (like Face lifting with Aloe Vera).

What make a Micro Niche Good enough? A great Number of Passionate People who are easy to reach and it’s already proven that they are ready to buy products online.

How to find them? look for little spots, gaps that are unfilled but still have a market! I collected the List of the Best Niche-defining Places:

1. Go to the Biggest Market Places Online and Find the Bestsellers.

AMAZON.COM: search for the Bestsellers, Magazines or Hot New Releases
EBAY.COM: check out the Marketplace Research and the hottest items on the eBay Pulse,
Barnes & Noble Daily Top Sellers or to directly to the marketplace of free ideas called FreeIQ

2. Find popular Topics on Search Engines

GOOGLE: check out the most Popular News, Trends,
YAHOO: find out the latest Buzz and get the Yahoo Answers,
Browse for the Bestsellers on Magazines.com
Find Groups & Topics on Meetup.com
Browse MySimon Top Searches
check out The top 10s and trends in consumer media and marketing behavior on Neilsen Net Ratings
Top News on Netscape Popular
Find out what people are saying on Omgili
Reddit.com Popular
See the most popular searches on SEOmoz
Scan the globe for emerging consumer trends with Trendwatching

3. Get Ideas on Social Media Sites

Delicious.com: check out the freshest bookmarks here
Digg.com see the Popular Archive
Go to eHow.com, WikiHow or howtodothings.com for the most popular how to topics&videos or to VeiwDo
Find the top 20 Viral videos on viralvideochart
Get ideas from existing websites on ALEXA top ranking

4. Find Searched for Keywords with little Competition

Google Keyword Tool
Keyword Discovery
SEObook Keyword Tool
WordTracker.com
Spy on your competitors with Spyfu

After defining some promising Niches go and TEST them. It’s not enough to guess that they can be good- we need Proven Data about the behaviour of your Target group:

Go to Digital Product Retailers like ClickBank or PayDotCom and verify that there is an acceptable response rate on your chosen Market.

Search for keywords on the retailers marketplace and check out approximately how many products are sold on this market (choose markets with many products)

Check out how many affiliates are promoting the products (search for the most popular products with the highest $/sale and see wetter affiliates are promoting it- go to Yahoo – Yahoo still allows direct link campaigns- and type the chosen product’s name to see how many affiliate urls you find)

Go to a keyword research software like Google Keyword Tool and look more more keywords (it can help you to find more sub-markets)

If you see that your Market is buying choose some products to promote as an affiliate. Make a direct link campaign on Yahoo (if it doesn’t work out, you did not lose a cent) and when your results are good

Start to buy your Business. Choose a keyword rich Domain name and In the Next Post I’m going to show You how to:

Generate Traffic to your Website(you can have the best product on Earth, if no one knows about it, it’s nothing)
How to increase your Conversion (how many people buy something from your side-what to do: copy writing, video, presentation)
How to Create a Moneymaking Information Products with the necessary solutions for your Market that sell out like crazy.

Krisztina Cseri

[http://www.mysuccessfactory.com]

Founder and CEO of Mysuccessfactory.com

Personal Branding Advisor, Speaker

Video Marketing & Social Media Marketing Coach

Krisztina Cseri creator of “The Social Media Success Formula”, is recognized as one of today’s leading European Women Experts in the Video Marketing, Social Media Personal Branding, and Online Marketing arena.

Advisor in the MLM, Personal Development, Relationship Management and online business world, Krisztina works as a consultant and advisor with a small handful of private clients at a time who dominate their industry leveraging the viral component of social media marketing.